Wyeth faces loss in future lawsuits

WYETH said second-quarter profit fell 4.3%, a smaller decline than analysts expected.

The company, which is investing €2 billion in a Wyeth BioPharma Campus at Grange Castle, said demand for medicines such as Effexor for depression boosted sales by 13%.

Net income fell to $827.3 million (€674.16m), or 62 cents a share, from $864.4 million, or 65 cents in the year-earlier quarter, when a gain from asset sales lifted profit, the Madison, New Jersey-based company said in a statement. Revenue rose to $4.22 billion.